This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and … volatility, and to study the impact of credit shocks on business cycle dynamics. Firms are identical ex ante but differ ex post … economy. A positive credit shock, defined as a rise in the loan-to-deposit ratio, increases output, consumption, hours and …

pandemic. It derives moment conditions for the number of infected and active cases for single as well as multigroup epidemic …

European countries since the start of the pandemic taking account of changes in voluntary and government mandated social …

the Covid-19 pandemic. We show that there exist threshold effects in the relationship between output growth and excess … observations. Our results show that, without policy support, the Covid-19 pandemic would cause a significant and long-lasting fall … country is immune to the economic fallout of the pandemic because of global inter-connections as evidenced by the case of …

observations. Our results show that the Covid-19 pandemic will lead to a significant fall in world output that is most likely long … country is immune to the economic fallout of the pandemic because of global interconnections as evidenced by the case of …